On August 7, 2026, FinCEN renewed its Geographic Targeting Order (GTO) designed to combat fraud in Minnesota and protect U.S. taxpayers. In early January, the Agency issued a Geographic Targeting Order requiring all banks and money transmitters located in Hennepin County and Ramsey County, Minnesota, to file reports with FinCEN of certain international funds transfers of $3,000 or more. 

On August 3, 2026, FinCEN assessed a $125,000,000 civil money penalty against UBS Financial Services Inc. (UBSFS) for willful violations of the Bank Secrecy Act. According to FinCEN’s press release, this is the largest penalty ever imposed against a broker-dealer for BSA violations to date.

On July 27, 2026, FinCEN issued a statement of enforcement policy in support of economic recovery and earthquake relief efforts in Venezuela. The statement was made in consultation with the Internal Revenue Service, Federal Reserve, FDIC, NCUA, and OCC. 

On July 24, 2026, FinCEN issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government.  According to FinCEN, fraud rings use stolen and fraudulent identities and other tactics to unlawfully acquire funds from Federal student aid programs, resulting in losses to Federal student aid programs and real students facing difficulties enrolling in classes.

On July 21, 2026, FinCEN Director Andrea Gacki testified before the United States House of Representatives Committee on Financial Services. Gacki provided an update on FinCEN’s work to combat fraud schemes and its efforts to modernize the Bank Secrecy Act (BSA) regime to address illicit finance threats.

On July 7, 2026, the Federal Reserve Board issued a proposal to amend its requirements for banks to maintain anti-money laundering programs. According to the Fed’s press release, the amendments are intended to align with changes to anti-money laundering program requirements separately proposed by the other agencies.

On June 30, 2026, FinCEN issued a supplemental Alert regarding fuel smuggling and tax evasion schemes on the southern border associated with Mexico-based cartels. The Alert advises financial institutions to be vigilant in detecting, identifying, and reporting suspicious activity connected to Cartel de Jalisco Nueva Generacion (CJNG) and other Mexico-based transnational criminal organizations.

On June 23, 2026, the OFAC sanctioned nine individuals and 26 entities linked to Prince Group TCO, including TCO leadership, investors in scam compounds, and front companies. This action further disrupts the group's overseas scam operations targeting Americans.

On June 22, 2026, the OCC issued a proposed rule to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to OCC-supervised permitted payment stablecoin issuers (PPSIs), as required by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).